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Posted on Dec 08, 08:04PM | UNI
The benchmark Inex of Bombay Stock Exchange (BSE) advanced by 84.20 points to 19424.10, a 19-month-high, in the week under review after the UPA government won the vote on Foreign Direct Investment (FDI) in multi-brand retail in both the houses of Parliament.
The Nifty of National Stock Exchange (NSE) rose by 27.55 points to 5907.40.
The BSE Mid-Cap and Small Cap index surged by 2.44 and 2.34 per cent respectively.
Both these indices outperformed the Sensex.
Realty and metals steal the show while IT stocks declined during the week.
BSE realty index surged by 5 per cent. OIl and gas also showed a good rally and went up by 3 pc.
Metal shares gained on reports of higher demand from China, the world's largest consumer of copper and aluminum.
The market gained in 3 out of 5 trading sessions in the week just gone by.
Data showing that foreign institutional investors (FIIs) remained net buyers of Indian stocks boosted sentiment.
Global markets rose after comments from China's new leader boosted global growth expectations.
Banks and financials witnessed some selling pressure towards the end of the week.
Key benchmark indices edged lower on Monday in choppy trade as the Sensex shed by 34.58 points to 19,305.32 on profit booking by local operators coupled with weak trend in Asian Market.
Very next day, it improved by 42.80 points to 19,348.12
Key benchmark indices edged higher in volatile trade on Wednesday as world stocks rose after comments from China that they would continue their supportive policy stance. China is the world's second biggest economy after the United States. The BSE Sensex advanced by 43.74 points to 19,391.86.
The Sensex gained another 94.94 points at 19,486.80, on Thursday after Bahujan Samaj Party (BSP) chief Mayawati said that BSP will vote in favour of the government during retail FDI vote in the Rajya Sabha.
On Friday, the key benchmark indices dropped by 62.70 points to settle at 19,424.10, as European stocks fell after the region's powerhouse, Germany, downgraded growth forecasts for 2013.
From the 30-share Sensex pack, 17 stocks rose and rest of them fell.
Index heavyweight and cigarette maker ITC edged higher. The stock hit record high of Rs 302.80 in intraday trade on Friday.
Index heavyweight Reliance Industries (RIL) surged after the company on December 5 2012 said that the board of Exim Bank has voted to extend the single largest financing transaction of USD 2.1 billion to Reliance Industries. The stock rallied by 5 pc to Rs 834.
Maruti Suzuki added over 2.4 pc. The stock touched a one-year high level after the company said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January.
Hindalco, BHEL, Sterlite and ICICI Bank were other key gainers this week.
On the other hand, Bharti Airtel slipped by 4.3 pc to Rs 322.
The initial public offer of Bharti Airtel's subsidiary Bharti Infratel opens for bidding on December 11 2012. The price band for the IPO has been fixed at between Rs 210 to Rs 240 per share.
IT pivotals edged lower on concerns that US-based Cognizant Technology may lower its revenue growth guidance for 2013.
TCS and Wipro shed 3.4 pc each on outlook worries.
Sun Pharma slipped 1.4 pc to Rs 700 after traders took to booking profits.